Best Buy Co. IncQ2 earnings preview with expected revenue growth, but past misses and guidance concerns create uncertainty.
Best Buy will announce its Q2 earnings on Thursday before market open, with analysts expecting revenue to grow 1.5% year on year, in line with the 1.6% increase recorded in the same quarter last year. The company beat revenue expectations last quarter with $8.94 billion, up 1.9% year on year, but its full-year EPS guidance slightly missed estimates. Analysts have generally reconfirmed their estimates over the last 30 days, and Best Buy has missed revenue estimates multiple times over the past two years. Peers Warby Parker and Sally Beauty have already reported Q2 results, with Warby Parker missing revenue expectations by 1% and Sally Beauty meeting them, leading to respective share price moves of -9.6% and +10.6%. Best Buy shares are down 3.1% over the last month, trading at $85.70, with an average analyst price target of $83.40.
Best Buy Co. IncQ2 earnings preview with expected revenue growth, but past misses and guidance concerns create uncertainty.
Sally Beauty Holdings IncSally Beauty met revenue expectations, leading to a +10.6% share price move, mentioned as a peer.
Warby Parker IncWarby Parker missed revenue expectations by 1%, causing a -9.6% share price drop, mentioned as a peer.